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Ocean Sky, Tiong Seng jointly acquire Sloane Court hotel and sites at Balmoral Road for $80.5 mil

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Ocean Sky, Tiong Seng jointly acquire Sloane Court hotel and sites at Balmoral Road for $80.5 mil

Samantha Chiew Published on Mon, Aug 28, 2017 / 7:49 AM GMT+8

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SINGAPORE (Aug 28): Ocean Sky International and Tiong Seng is jointly acquiring Sloane Court Hotel at 17 Balmoral Road and certain sites at Balmoral Road for $80.5 million.

The sale and purchase agreement was signed by TSky Development on Friday.

TSky Development is 40% owned by Arctic Sky, a wholly owned subsidiary of Ocean Sky, and 60% owned by Yuan Ching Development, a subsidiary of Tiong Seng, the listed construction company.

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